LMC: Base Quotes Rise10 September 2013
UK - Beef values have risen across the UK as good weather and grass growth have delayed marketing of animals. This is producing tighter supplies, according to the Livestock and Meat Commission.
Deadweight Cattle Trade
Base quotes from the plants this week for U-3 grade prime cattle have increased to 350-354p/kg with quotes for O+3 cows between 270-280p/kg. The strong grass growth and good weather in recent weeks have delayed the marketing of cattle in some instances with the plants reporting a tightening in supplies.
Prime cattle slaughterings in NI last week totalled 5,345 head, a reduction of 727 head on the previous week. Imports of prime cattle from ROI last week for direct slaughter were back by 100 head from the previous week at 588 head although more cows were imported.
Exports to GB last week for direct slaughter were broadly similar to previous weeks with 213 prime cattle exported and 34 cows. Exports of cattle to GB for further production during August totalled 1,026 head bringing the total for 2013 to date to 9,137 head.
This is more than double the 4,367 exported during the same period last year for further production. The average steer price in NI last week was 354.5p/kg, up 1.8p/kg from the previous week with the R3 steer price increasing by 3p/kg to 364.9p/kg.
The average NI heifer price last week was up 1p/kg from the previous week at 358.2p/kg. The R3 heifer price was up by the same margin to 365.8p/kg last week. The average cow price in NI last week was 253.0p/kg, back 6.9p/kg on the previous week with all reported cow grades showing a marked decline from the previous week.
The average NI cow price was marginally ahead of the GB cow average price last week of 251.4p/kg. Prices for prime cattle in GB last week also showed an improvement on the previous week with average steer prices up 4.3 p/kg to 388.7p/kg with average prices up in all the GB regions.
The strongest increases were recorded in Northern England and the Midlands where average prices were both up by 6.9p/kg to 391.2p/kg and 377.0p/kg respectively. Average heifer prices in GB were up 2.1p/kg to 384.9p/kg last week.
Average prices increased in Scotland, Northern England and the Midlands while in Southern England the average price was back by 3.4p/kg to 362.3p/kg.
In ROI last week average prices were similar to the previous week in euro terms but a strengthening in the euro against sterling has meant prices were generally up1-2p/kg in sterling terms. The R3 steer price in ROI last week was the equivalent of 348.4p/kg (+1.7p/kg) while the R3 heifer price was 358.2p/kg (+1p/kg).
Liveweight Cattle Trade
Finished first quality steers sold to an average of 212p/kg this week with second quality selling to an average of 187p/kg. First quality finished heifers sold to an average of 206p/kg this week with second quality selling to an average of 183p/kg.
The trade for beef cows this week was back slightly with first quality selling to 160p/kg (165p/kg last week) and second quality selling to130p/kg (135p/kg lastweek). The trade for store cattle has remained strong with first quality store bullocks up to 400kg selling to an average of 220p/kg thisweek compared to 214p/kg last week. Second quality bullocks in the same weight range sold to an average of 194p/kg compared to 185p/kg last week.
TheMeatSite News Desk